Stock research
Visa operates the world's largest electronic-payments network, earning fees on card transactions rather than lending.
For the fiscal year ended September 30, 2025, Visa Inc. reported revenue of $40.0B and net income of $20.1B, with operating cash flow of $23.1B. Source: Form 10-K filed November 6, 2025
Reported SEC XBRL figures. Each metric’s period and original filing are listed below.
Delayed Cboe One market data via TradingView. It may differ from primary-exchange or consolidated quotes.
Its rails power a huge share of global consumer and commercial spending.
Reported figures from Visa Inc.'s filings, pulled directly from SEC XBRL data rather than a third-party terminal. Each row links to the filing it came from.
| Metric | Value | Period | Source |
|---|---|---|---|
| Revenue | $40.0B | 2024-10-01 – 2025-09-30 | SEC filing |
| Net income | $20.1B | 2024-10-01 – 2025-09-30 | SEC filing |
| Operating cash flow | $23.1B | 2024-10-01 – 2025-09-30 | SEC filing |
| Net margin | 50.1% | 2024-10-01 – 2025-09-30 | SEC filing |
Values are as tagged by the issuer in XBRL. Revenue for banks and insurers is net of interest expense where that is the reported line. Fiscal years that do not follow the calendar are shown by their period-end date. No price, market cap, or valuation multiple is shown because Yield Theory does not republish unlicensed market data.
For Visa Inc., the most important recurring operating and market variables are:
Each question starts with what the filings show, then why it matters. None of these is a rating or a forecast.
Fiscal 2025 net revenue rose 11% to $40.0 billion, which the 10-K attributes to growth in processed transactions, nominal cross-border volume, and payments volume, partially offset by client incentives that rose 14% to $15.8 billion. Item 7 explains that payments volume drives service revenue while transactions drive data processing revenue.
Client incentives are contra-revenue paid to financial institutions and sellers to win volume, and they grew faster than net revenue in fiscal 2025. Track international transaction revenue of $14.2 billion and other revenue, up 27% to $4.1 billion, against incentives to see whether pricing power is being ceded to large clients.
Item 1A and the legal notes describe the DOJ complaint filed September 24, 2024 alleging monopolization of debit network services, the possible reintroduction of the Credit Card Competition Act, and interchange caps under review in multiple jurisdictions. GAAP operating expenses rose 30% in fiscal 2025 largely because of litigation provisions.
Item 1 frames addressable consumer spend above $40 trillion, commercial and money movement flows near $200 trillion, and a value-added services opportunity around $520 billion, while reporting $17 trillion of total volume and 258 billion Visa-processed transactions in fiscal 2025. Audited net income was $20.1 billion; separate reported growth from these aspirational figures.
Operating cash flow was $23.1B, 1.15 times net income of $20.1B, for the fiscal year ended September 30, 2025.
Cash from operations exceeded reported earnings. Non-cash charges such as depreciation, amortization and stock-based compensation usually explain the gap; the cash-flow statement shows which.
Net income was 50.1% of revenue for the fiscal year ended September 30, 2025, based on revenue and net income reported for the same period.
Net margin reflects the business model as much as execution, so compare it with companies in the same SEC industry and read the income statement for one-time items before treating it as a run rate.
The SEC lists Visa Inc.'s fiscal year end as September 30, not December 31. The latest annual figures here run from October 1, 2024 to September 30, 2025.
Annual results cover a different 12 months from calendar-year peers. Align periods before comparing growth or margins across companies.
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| Politician | Trade date | Type | Owner | Amount | Source |
|---|---|---|---|---|---|
| Sheldon Whitehouse | 2026-09-04 | Sale | Spouse | $1,001 - $15,000 | Filing #6bf3b6f7-9e1b-499a-bd5a-990292ce2e72 |
| Sheldon Whitehouse | 2026-09-04 | Sale | Self | $1,001 - $15,000 | Filing #6bf3b6f7-9e1b-499a-bd5a-990292ce2e72 |
| Rich McCormick | 2026-07-30 | Sale | Self | $1,001 - $15,000 | Filing #20035204 |
| David Taylor | 2026-04-27 | Purchase | Self | $1,001 - $15,000 | Filing #20034489 |
| Jonathan Jackson | 2026-04-24 | Sale | Joint | $50,001 - $100,000 | Filing #20034519 |
| Alan Armstrong | 2026-03-27 | Purchase | Self | $15,001 - $50,000 | Filing #fda235b3-bad7-4637-8fa1-053f354d929c |
| David Taylor | 2026-02-26 | Purchase | Self | $1,001 - $15,000 | Filing #20034138 |
| Josh Gottheimer | 2026-02-18 | Sale | Joint | $1,001 - $15,000 | Filing #20034130 |
| David Taylor | 2026-02-09 | Purchase | Self | $1,001 - $15,000 | Filing #20034036 |
| David Taylor | 2026-01-16 | Purchase | Self | $1,001 - $15,000 | Filing #20033916 |
All verified V congressional disclosures
Congressional disclosures are delayed, range-based records—not real-time signals or proof of motive. See the source-linked tracker for scope and limitations.
Visa operates the world's largest electronic-payments network, earning fees on card transactions rather than lending.
For the fiscal year ended September 30, 2025, Visa Inc. reported revenue of $40.0B and net income of $20.1B, with operating cash flow of $23.1B. The figures come from Visa Inc.'s SEC XBRL filings.
The SEC lists Visa Inc.'s fiscal year end as September 30.
The current verified House and Senate snapshot contains 65 transaction rows for V, each linked to the original filing.
Visa Inc. is headquartered in San Francisco, California and was founded in 1958.
This page does not rate V as a buy or sell. It sets out what Visa Inc. reports, what investors should watch and the questions a thesis has to answer, with links to the SEC filings. It is research, not investment advice.
This page is independent research and educational information, not investment advice or a recommendation to buy or sell any security. Company facts are compiled from public sources. Do your own research.
Financials describe the business. The next question is which assumptions an investment thesis depends on. Explore the member reports below for analysis of catalysts, risks, and what would change the view. $39/month or $249/year.
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